FINLAND: Panasonic is to acquire its Finnish heat pump distributor Kauko Oy, part of Aspo plc.
The Japanese manufacturer’s acquisition of Kauko’s heat pump business unit will be effective from 1 January, 2020. All Kauko employees of the heat pump business unit will join Panasonic, and in addition to sales, all aftermarket operations such as after-sales service and repairs are transferred to Panasonic.
Kauko has been Panasonic’s exclusive distributor of heat pumps in Finland since 1988.
“We are pleased about the arrangement announced today and confident that it will be in the best interests of our customers in the heat pump market, our retailers, Kauko employees and Panasonic,” said Aki Ojanen, chairman of Kauko Oy and the CEO of Aspo Group. “This makes sense also for Aspo as the owner, and Kauko can now continue focusing on its core business,” he added.
Kauko will remain the exclusive distributor of other Panasonic b2b products and solutions in Finland.